Great! Thank you. The interest deduction I calculated using the percentage in the scenario above is a little lower than if i let TT calculate since it was from 2016. For example:
If I don't calculate myself and let TT help me, do I enter the amount of loan prior to cash out on the first line ?
For example In the section "tell us about how you have used this loan"..
"Since you have first took out this loan, how much has been used to buy, improve or build this home its secured by" (210,000 as in original example) Then it It also shows the mortgage balance at the end of this year.
Since I did the cashout in 2016, it has improved because i have paid 3 years toward this Cashout. Is that correct?
Therefore, which scenario should i use?
